Triglav Skladi D.O.O. acquired a new position in shares of Bank of America Co. (NYSE:BAC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 161,788 shares of the financial services provider's stock, valued at approximately $7,112,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Advisers LP raised its holdings in Bank of America by 14.4% during the 4th quarter. Two Sigma Advisers LP now owns 11,677,600 shares of the financial services provider's stock worth $513,231,000 after buying an additional 1,469,700 shares during the period. Texas Bank & Trust Co acquired a new stake in Bank of America during the 4th quarter worth approximately $244,000. Theleme Partners LLP acquired a new stake in Bank of America during the 4th quarter worth approximately $263,449,000. TrinityPoint Wealth LLC raised its holdings in Bank of America by 1.5% during the 4th quarter. TrinityPoint Wealth LLC now owns 37,137 shares of the financial services provider's stock worth $1,632,000 after buying an additional 544 shares during the period. Finally, Stonebrook Private Inc. raised its holdings in Bank of America by 4.5% during the 4th quarter. Stonebrook Private Inc. now owns 18,503 shares of the financial services provider's stock worth $813,000 after buying an additional 804 shares during the period. Institutional investors own 70.71% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Baird R W upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Evercore ISI lowered their price objective on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. TD Cowen began coverage on shares of Bank of America in a report on Thursday. They issued a "buy" rating and a $53.00 price objective on the stock. Robert W. Baird upgraded shares of Bank of America from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $45.00 to $50.00 in a report on Friday, March 7th. Finally, Truist Financial lowered their price objective on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.50.
Check Out Our Latest Report on BAC
Bank of America Price Performance
NYSE:BAC opened at $44.66 on Monday. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. The company has a market cap of $336.38 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.21 and a beta of 1.27. The firm's fifty day moving average price is $40.03 and its two-hundred day moving average price is $43.56. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.
Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Equities analysts expect that Bank of America Co. will post 3.7 earnings per share for the current year.
Bank of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a $0.26 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.33%. Bank of America's dividend payout ratio is currently 30.95%.
Bank of America Profile
(
Free Report)
Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
Further Reading
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